Digital wallet and debt moratoria schemes should not be for all : BoT governor

[webfact]

 

Bank of Thailand Governor Sethaput Suthiwartnarueput has suggested that the “digital wallet” scheme should target certain people, instead of all Thais who are 16 and older, while debt a moratorium for all indebted farmers should also be selective.

 

He explained that not everyone who is eligible for the 10,000 baht under the digital wallet scheme needs the money and a lot of money will be saved if it is targeted towards people who are in need of it.

 

Regarding a debt moratorium for farmers, Sethaput said that there are many who are capable of servicing their debts and the best way to help these farmers is to help them settle their debts or to incentivise them so they can carry on servicing them.

 

He admitted that there are also many farmers who are heavily indebted and a debt moratorium, which is just temporary relief, will not help them settle their chronic indebtedness.

 

Full story: Thai PBS 2023-09-15

 

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[hydraides]

Crazy stupid idea to do this. 

 

AMerica did the same thing during COVID pandemic and it drove inflation above 10%

 

It's like Thailand wants to drive inflation up on purpose so they can put interest ups above 5% to cause the economy collapse 

[hydraides]

Just now, hydraides said:

Crazy stupid idea to do this. 

 

AMerica did the same thing during COVID pandemic and it drove inflation above 10%

 

It's like Thailand wants to drive inflation up on purpose so they can put interest ups above 5% to cause the economy collapse on the massive debt every one in the country has

 

 

Edited September 15, 2023 by hydraides

[hotchilli]

16 hours ago, webfact said:

He explained that not everyone who is eligible for the 10,000 baht under the digital wallet scheme needs the money and a lot of money will be saved if it is targeted towards people who are in need of it.

So exclude millionaires and give 20,000 baht to the poor.

[Cake Monster]

As with all Debt Moratoria, refinancing, restructuring, Special Mention management Etc there will always come the Day when the Bubble bursts on bad Debt

Bad Debt is Bad Debt, no matter how its trying to be covered over

[300sd]

The money is free but we have requirements!

[shackleton]

Can't see this working giving everyone Thai over 16 a payment 

They no doubt will nearer the time find excuses why it can't be paid 

Pie in the sky scheme ????

Make the people happy ???? 

[freeworld]

19 hours ago, hydraides said:

Crazy stupid idea to do this. 

 

AMerica did the same thing during COVID pandemic and it drove inflation above 10%

 

It's like Thailand wants to drive inflation up on purpose so they can put interest ups above 5% to cause the economy collapse 

Nothing is going to collapse. For years people are predicting doom, gloom and collapse but governments are wise and they will manage.

[John Drake]

6 hours ago, hotchilli said:

So exclude millionaires and give 20,000 baht to the poor.

More likely to be the other way around.

[billd766]

There is nothing stopping anybody from returning the money, nor is there anything stopping anybody from not taking the benefit of the debt moratoria.